Mystery whale opens $300M leveraged Bitcoin bet: James Wynn alt account?

4 days ago

A enigma capitalist has opened a $300 cardinal leveraged Bitcoin position, fueling speculation astir their identity.

The chartless whale, oregon ample cryptocurrency holder, opened a 20x leveraged Bitcoin (BTC) agelong presumption worthy implicit $308 cardinal astatine the introduction terms of $108,100, Hypurrscan blockchain information shows.

The presumption presently shows an unrealized nett of much than $4 cardinal and faces liquidation if Bitcoin drops beneath $105,780.

The commercialized has reignited speculation astir James Wynn, a high-profile leverage trader who precocious lost astir $25 million successful a abstracted liquidation connected June 5, arsenic Cointelegraph antecedently reported.

The agelong presumption was opened hours aft Wynn announced that helium is backmost nether an anonymous account, without specifying the wallet address.

“I’m backmost successful the casino nether an alt relationship truthful the cabal marketplace makers can’t find me,” wrote Wynn successful a June 10 X post.

Blockchain information level Onchain Lens besides pointed retired that Wynn whitethorn beryllium down the $300 cardinal leveraged long.

“They are hunting me,” claimed Wynn earlier $100 cardinal liquidation

After opening his 2nd $100 cardinal leveraged Bitcoin position, Wynn claimed that his liquidation level is being deliberately targeted by orchestrated efforts from large marketplace participants.

“They’re coming for maine again,” wrote Wynn, disclosing his erstwhile liquidation level successful a June 2 X post. “Don’t fto these evil bastards liquidate me,” helium added.

Wynn besides claimed that immoderate of his idiosyncratic accounts connected cryptocurrency exchanges were “closed overnight” for nary evident reason.

While the individuality of the mysterious whale remains unclear, the $300 cardinal stake coincides with a renewed “wave of organization breakthroughs” for Bitcoin, according to Nexo dispatch exertion Stella Zlatareva.

“Corporate treasury enactment continues to expand,” she told Cointelegraph, referencing Strategy’s $1 billion banal offering to money its Bitcoin purchases, which was upsized from the antecedently announced $250 million.

Adding to the rising capitalist sentiment, spot Bitcoin exchange-traded funds recorded $386 cardinal worthy of nett affirmative inflows connected Monday, June 9, recovering from a two-day sell-off, Farside Investors information shows.

The structural inflows from ETFs and institutions whitethorn assistance Bitcoin surpass the $200,000 “base case” earlier the extremity of 2025, Bitwise’s caput of European research, André Dragosch, told Cointelegraph.